Pfizer is a pharmaceuticals and biotechnology company.
Pfizer Inc. is an American multinational pharmaceutical corporation headquartered in New York City. It is one of the world’s largest pharmaceutical companies. It is listed on the New York Stock Exchange, and its shares have been a component of the Dow Jones Industrial Average since 2004. Pfizer ranked No. 57 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.
On December 19, 2018, Pfizer announced a joint merger of their consumer healthcare division with UK pharma giant GlaxoSmithKline; the British company will maintain a controlling share (listed at 68%).
The company developed and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology.
In 2016, Pfizer Inc. was expected to merge with Allergan, plc to create the Ireland-based “Pfizer plc” in a deal that would have been worth $160 billion. The merger was called off in April 2016, however, because of new rules from the United States Treasury against tax inversions, a method of avoiding taxes by merging with a foreign company. The company has made the second-largest pharmaceutical settlement with the United States Department of Justice.
Initiating human trials is only one step in the long process of proving the safety and efficacy of a new therapeutic. Still, the timeframes to beginning testing for Moderna, BioNTech and CureVac are faster than typical for traditional vaccines.
In the very recent past, Alphabet (GOOGL) stock has plunged a bit. However, the general trajectory and report of the company look quite positive.
The Wall Street bets on Pfizer stocks didn’t play out as the drug corporation is having troubles for the first time in 2 years of profits. After having bought back nearly $9 billion of its own shares in 2019, the company has no repurchase plans for 2020.
